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Clark Imports sold a depreciable plant asset for cash of $34,000. The accumulated depreciation amounted to $74,000, and a loss of $3,500 was recognized on
Clark Imports sold a depreciable plant asset for cash of $34,000. The accumulated depreciation amounted to $74,000, and a loss of $3,500 was recognized on the sale. Under these circumstances, the original cost of the asset must have been: Multiple Choice $104,500 $111,500 $77,500 $70.500
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